Stock Market & Financial Investment News

Senate report says Credit Suisse helped clients evade taxes, NY Times saysCredit Suisse took extensive steps to help thousands of its U.S. clients hide billions of dollars of assets from the U.S. government and evade taxes, according to a Senate report, The New York Times reported last night. Among the methods used by the bank were opening accounts under the name of shell companies and sending bankers to the U.S. to secretly recruit new clients without leaving a paper trail, the newspaper quoted the report as saying. Reference Link

Samson Resources plans to file for bankruptcy protection, NY Post reportsSamson Resources plans to file for bankruptcy protection "within days," the New York Post reports. KKR (KKR) is slated to lose its approximately $2B investment in the firm, the report says. Cerberus Capital Management, Silver Point Capital, and Credit Suisse (CS) are among the second-lien lenders that hold roughly $1B in debt and will take over Samson in exchange for their loans as part of a prepackaged bankruptcy, the report says. Reference Link

Case against Credit Suisse over 'dark pools' prepped by NY AG, Fox Business saysNew York Attorney General Eric Schneiderman is readying to bring a civil case against Credit Suisse over high-frequency trading abuses through its Crossfinder “dark pools,” according to Fox Business' Charlie Gasparino. Reference Link